Portable drinking cups typically include a container that holds a beverage and a lid covering the container. The lid may be detachable from the container and is provided with a drinking spout. The drinking spout often includes holes, slots, or other flow-limiting features, such as a valve assembly. The flow-limiting features reduce the amount of spilling that occurs if the drinking cup becomes inverted or is otherwise overturned, but allow liquid flow for drinking when suction is applied to the drinking spout. One popular type of drinking cup includes at least one, and more often two handles, secured to opposite sides of the container and positioned 180° apart which facilitate easy grasping of the drinking cups. When the user holds the handled container, the orientation of the handles relative to the drinking spout is not always in the most comfortable or optimal position. Although some prior art drinking cups have adjustable handles, such drinking cups do not allow the handles to remain fixed once they have been adjusted to a desired setting. For example, the handles of such prior art drinking cups will undesirably change position when the drinking cup is dropped onto the floor. Other prior art drinking cups with locking handles only allow the handles to be readjusted if the entire drinking cup is disassembled. Therefore, there is a need for a drinking cup with adjustable handles that remain fixed after the handles have been properly oriented and that can be easily readjusted, if needed, without resorting to disassembling the entire drinking cup.